Understanding the SEC's Proposed Changes to Small Adviser Definitions and Their Impact on the Industry The Securities and Exchange Commission (SEC) recently proposed updates to the way it defines “small advisers” under the Regulatory Flexibility Act (RFA). While these changes may seem technical, they carry significant implications for investment advisers, especially smaller firms. This post breaks down the SEC’s proposal, explains why it matters, and explores how it could aff

Mastering Fee Disclosures: A Guide for RIAs to Ensure Client Trust and Compliance Clear and accurate fee disclosures are essential for Registered Investment Advisers (RIAs) to build trust with clients and meet regulatory requirements. The Securities and Exchange Commission (SEC) and state regulators have increased their focus on how fees are described, calculated, and charged. This means RIAs must review and improve their fee disclosure practices to avoid enforcement actions,

Registered Investment Advisers (RIAs) face many regulatory requirements, but few are as crucial as understanding Regulatory Assets Under Management (RAUM). This figure not only determines whether an adviser must register with the Securities and Exchange Commission (SEC) or state regulators but also affects ongoing disclosure and reporting duties. Getting RAUM right is essential for compliance and helps regulators evaluate the size and risk profile of advisory firms. This post

The role of the Chief Compliance Officer (CCO) in investment advisory firms has never been more critical. As regulatory scrutiny intensifies, the Securities and Exchange Commission (SEC) has clarified when and how CCOs may face personal liability. While CCOs are not meant to be scapegoats for firm-wide compliance failures, recent SEC enforcement actions reveal clear boundaries around their responsibilities and accountability. This post explores what the SEC has communicated i